What is chargeable to tax under the head Capital Gains?

Any profit or gain arising from sale or transfer of a Capital Asset is chargeable to tax under the head ‘‘Capital Gains’’. The income under this head is deemed to be the income of the year in which the transfer takes place.

Capital gains are chargeable to tax on accrual basis whether the consideration is received or not, especially in the case of gains from sale of shares and securities.

Source: Income Tax Department